Bitcoin ETFs Post Largest Daily Outflow Since June as $636M Exits

U.S. spot bitcoin ETFs reversed course on Thursday, bleeding $635.6 million in net withdrawals — more than wiping out the $528.4 million they had taken in a day earlier, according to data compiled by The Block. It was the largest single-day outflow since June.

BlackRock's IBIT led the exodus at $254.1 million, followed by Fidelity's FBTC at $217.5 million and Ark Invest/21Shares' ARKB at $109.4 million. Bitwise's BITB and Grayscale's GBTC also saw net outflows. Morgan Stanley's MSBT — launched only in April, with just one down day on record — was the lone gainer, adding $2.3 million; the remaining funds posted zero flows.

Even with Thursday's drop, the funds remain net positive for the week at $442.7 million, built on inflows of $526.7 million Monday, $23.2 million Tuesday and $528.4 million Wednesday. Since launching in January 2024, the spot bitcoin ETFs have drawn more than $57 billion in combined net inflows and hold over $100 billion in assets, per The Block's ETF Tracker.

Ethereum ETFs also turned negative, losing $110.6 million after adding $14.9 million the prior day. Solana and Hyperliquid funds saw outflows; XRP funds bucked the trend with $3.6 million in.

The flows tracked a broader risk-off move. Bitcoin slid to around $81,500 early Friday, down 3.4% over 24 hours, as a Wall Street sell-off hit Asian equities. The Nasdaq Composite closed down 2.6% Thursday — its worst session since June — and the S&P 500 fell 1.2%. At least $440 million in leveraged crypto positions were liquidated over 24 hours, $397 million of it longs, according to CoinGlass.

Key facts

• Thursday net outflow: $635.6M, largest daily since June — The Block ETF Tracker
• Leaders: IBIT −$254.1M, FBTC −$217.5M, ARKB −$109.4M; MSBT +$2.3M — The Block
• Week-to-date still +$442.7M; reversed Wednesday's +$528.4M — The Block
• Ethereum ETFs −$110.6M; XRP +$3.6M — The Block
• BTC ~$81,500, −3.4% in 24h; Nasdaq −2.6%, S&P −1.2% Thursday — The Block
• ~$440M crypto liquidations ($397M longs) — CoinGlass via The Block

The real-world read

One red day doesn't break a trend: the funds are still positive on the week and sit on $100 billion-plus in assets. But the timing is the tell. Before the reversal, Tesseract's Lorris Beziers had framed the week's inflows as proof of "continued ETF demand despite broader market weakness" — then named the exact test that just failed, warning that "if inflows fade and that floor breaks, the demand picture has weakened." The outflows landed in lockstep with equities, underscoring that the ETF bid tracks tech-stock risk appetite, not some independent crypto conviction. All flow figures here trace to a single secondary tally (The Block's tracker); issuers hadn't separately confirmed them.

Opinion, and whose

STS Digital's Jeff Anderson said he doesn't "read a lot into this move," citing an $80K–$86K channel. Derive's Nick Forster said the platform's implied odds of bitcoin topping $100,000 by Christmas rose from 9.7% to 12% over the past week, while odds of a drop below $70,000 fell from 15.6% to 11% — a read on positioning, not a forecast of price.

Sources

• The Block (Tier 2, secondary), "Bitcoin ETFs swing back to net outflows," 2026-10-23 — all flow figures, fund-level breakdown, price and index moves; cites its own ETF Tracker and CoinGlass for liquidations. No marketing or sponsored content involved.

This is news reporting, not financial advice.